(Bloomberg) -- Imagine Entertainment, the film and TV producer that made “Apollo 13,” is in talks to sell a majority stake to Centricus Asset Management Ltd., according to people with knowledge of the matter.
The London-based investment firm is seeking a deal that would value Imagine at more than $600 million, said the people, who asked not to be identified because the information is private. Centricus could contribute as much as $200 million of additional growth capital to the business, one of the people said.
While the two parties are engaged in discussions, no final agreements have been reached, and the talks could still fall apart, the people said. The Wall Street Journal reported on the developments earlier Friday.
Independent film and TV producers are benefiting from a surge in spending by major media companies that are expanding into streaming and need programming to attract subscribers. That, in turn, is attracting investors such as Centricus to producers like Imagine. Imagine is led by co-founders Ron Howard and Brian Grazer.
Last week, former Walt Disney Co. executives Kevin Mayer and Tom Staggs acquired a minority stake in Westbrook Inc., the entertainment company founded by Hollywood power couple Will and Jada Pinkett Smith. Late last year, the former Disney duo agreed to purchase Moonbug Entertainment, the creator of children's show “CoComelon,” in a deal valued at around $3 billion.
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